Realtors in some parts of California are trying to dissuade would-be sellers from putting their property on the market. Cameron Pannabecker, owner of Cal-Pro Mortgage, told CNBC, “I don't know an agent today who would take your listing unless you're a hard-luck case. There is just too much competition.”

Societe Generale, the French bank that lost some $7.6 billion from an unauthorized trade by employee Jerome Kerviel in January, named Bear Stearns’ European CEO Michel Peretie to lead its corporate and investment banking unit.

Tech stocks had a strong showing during New York morning trading. Dell shares were up 7.8 percent beat performance projections during the most recent quarter. Chipmaker Marvell Technology shares surged 20 percent amid reports of a fiscal first-quarter profit. Shares of software company Novell were up 4.7 percent. Overall, as of 10:32 EDT, “the Dow Jones Industrial Average was up 10 points to 12,657, and the S&P 500 was rising 2 points to 1401. The Nasdaq climbed 12 points to 2521,” reports The Street.

South Korean electronics manufacturer LG has emerged as “clearly one of the leading candidates," to acquire GE’s appliance unit, said GE CEO Jeffrey Immelt. Other frontrunners are Chinese company Haier, Arçelik of Turkey, Sweden’s Electrolux and Mexico-based Controladora Mabe.

Tracinda, the investment company of billionaire Kirk Kerkorian, said that “it will waive a condition tied to a tender offer for Ford Motor Co. shares, keeping his option open to add to his stake in the No. 2 U.S. automaker.” During Friday premarket trading, Ford shares rose 2.4 percent to $6.87.

The Commodity Futures Trading Commission revealed that it has been investigating possible manipulation of oil prices by Wall Street speculators. The CFTC said it was “taking the extraordinary step of disclosing this investigation because of today's unprecedented market conditions.”

Bear Stearns shareholders voted to approve the sale of the 85-year old brokerage to JPMorgan Chase. Bear Stearns Chairman James Cayne apologized to employees and shareholders, saying he was “sorry that it happened. Words alone can’t describe the pain that I feel.”

Pharmaceutical company Merck won appeals in Texas and New Jersey that overturned multimillion dollar jury verdicts over the painkiller Vioxx. Merck had agreed to a $4.85 billion lawsuit covering 50,000 people who had heart attacks or strokes after taking Vioxx.

According to a survey by the Travel Industry Association, Americans avoided 41 million airline trips over the past year due to the frustrations of flying, costing the national economy $26 billion. “Many travelers believe their time is not respected and it is leading them to avoid a significant number of trips,” said Allan Rivlin of polling firm Peter D. Hart Research Associates. “Inefficient security screening and flight cancellations and delays are air travelers' top frustrations.”

A Democratic Party panel to meet Saturday may decide the fate of N.Y. Sen. Hillary Clinton’s presidential campaign. The group is to tackle the question of apportioning delegates from Florida and Michigan. Neither state currently has any delegates, a penalty for holding their primaries too early.

Texas state officials are taking DNA samples from Warren Jeffs, the incarcerated leader of the Fundamentalist Church of Jesus Christ of Latter-Day Saints, in connection with four alleged marriages to minors. This case is separate from those related to the April raid on the sect’s compound in Eldorado, Texas.

A crane collapsed on New York’s Upper East Side, killing one and seriously injuring at least two. Eight violations had previously been assessed at the site on 91st Street between 1st and 2nd Avenues. This is the second fatal crane collapse on the East Side of Manhattan this year.

Mass. Gov. Deval Patrick signed a bill that manages the state’s ocean resources, dictating which areas should be protected and where pipelines and energy projects can be built. The bill is the first of its kind in the United States.

A pair of teenagers who hacked Comcast’s homepage and e-mail services on Thursday claim that they called a company manager after originally hacking the site and, after the manager hung up on them, decided to redirect the site to a page bragging of their exploits. “I wasn't even really thinking,” said hacker EBK. “Plus, I'm just so mad at Comcast.”

Terje Skavdal, the head of the UN Office for the Coordination of Humanitarian Affairs, said in regard to homeless Burmese cyclone victims that "Any forced or coerced movement of people is completely unacceptable." The statement follows reports that the country’s ruling junta is evicting storm victims from state-operated emergency camps.

A Turkish court ordered the shutdown of gay-rights activist group Lambda Istanbul Lesbian Gay Bisexual and Transvestites Solidarity Association on the basis that its name is “immoral.” The group has vowed to appeal the ruling.

Libyan dissident activist Juma Boufayed was freed by the Libyan government after 15 months of imprisonment, reported Human Rights Watch. Boufayed was arrested with 13 others for protesting police brutality. Of that group, one remains missing, 11 are on trial and one has been freed.

Brazilian authorities have released aerial photographs of an “uncontacted” Amazon tribe. The photos show two men in red paint aiming their bows at the helicopter, as well as a woman in black paint. The government released the photos to confirm the tribe’s existence, which may be threatened by oil and logging companies.

Thousands of protestors from India’s Gujjar caste burned tires and blocked roads leading to New Dehli, demanding to be downgraded in India’s caste system. A lower social status would give the Gujjar access to larger job and college quotas. Nearly 40 people have been killed since the protests began last Friday.

Angelina Jolie’s representative confirmed that, contrary to reports that broke this morning, the actress has not yet given birth and is “enjoying her home and her family in France,” reports People magazine.

The Los Angeles Lakers are going to the NBA Finals after overcoming a 17-point deficit in a 100-92 Game 5 win over San Antonio. They will play either the Boston Celtics or Detroit Pistons, who play tonight with the Celtics holding a 3-2 series lead.